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Vimio in 7.3m funding

DAVID McKENNA, the former boss of Marlborough International, and Fran Rooney, the former chief executive of Baltimore Technologies, are set to make their return to the stock market with Vimio after the completion of a £5m (€7.29m) share placing, writes Brian Carey.

The mobile software firm is raising funds from institutional and private investors, and shares will be floated on the Alternative Investment Market by the end of the month.

McKenna, who bought Marlborough, a recruitment firm, out of receivership and turned it into a market flyer before it fell back to earth, will be an executive director. Rooney, who headed up Baltimore Technologies when it was a FTSE 100 company, and resigned as the stock went into freefall, will be chairman.

A-Plan advised the firm on the fundraising and float.

Vimio develops software that allows television, music and video clips to be delivered over mobile-phone networks. Headquartered in Dublin,